The deal is subject to financing, due diligence, execution of a final purchase agreement and regulatory approvals.

Max has capacity of about 50,000 metric tons of BOPP film annually, including multilayer white opaque films, ultra high barrier metalized plain films and leather finishing foils. Its products are used in food packaging, overwrapping, consumer products, labels and textiles.

Raunheim-based Treofan already has BOPP production in Europe and the Americas.

“After operating plants in Europe and Mexico, the footprint in India will enable Treofan to transfer its unique portfolio and technology into the strongly growing Asian markets and become a global partner for its customers.” Jürgen Lindemann, commercial director of Treofan, said in a news release.